Company closures, layoffs, cost cutting, outsourcing and retirees who have had to return to the job market because of investment portfolio losses have combined to make it hard on today’s IT professionals.

Unrelenting pressure on expenses, improvements in networking and communication technology and an increased appreciation for flexible business models are driving insurers to outsource core processes.

Seattle — U.S. insurers and actuarial firms are increasingly outsourcing, offshoring and importing actuarial talent from abroad, actuaries were told at the 2008 Annual Meeting of the Casualty Actuarial Society, held in November in Seattle.

Also receiving recognition this year are four leaders who have successfully driven significant project and/or process improvements within their companies.

Insurer voting is in progress as INN and Celent partner on INN’s 3rd annual ranking of tech solution providers.

Chesapeake Systems Solutions offers outsourced unclaimed property compliance services to assist firms in mitigating the risk of noncompliance with state laws.

Bilked for billions of dollars annually and facing tough economic times, insurers are reaping benefits by outsourcing fraud mitigation.

Leveraging information technology outsourcing without relinquishing control is a key for insurers.

Expanded reports are designed to provide outsourcing buyers with greater research.

Within five years, Everest Research projects spending for global business process outsourcing (BPO) by the financial services sector will reach US$145-$165 billion for India-based services, the hub of global sourcing for financial services.

Pinnacle Life, Allied North America and Harleysville Insurance win first, second and third place in Insurance Networking News’ 2008 INNovators Award.

Global insurance outsourcing is growing at a CAGR of 8%, expected to become a $24 billion industry next year.

Architecture challenges and performance concerns are hampering life insurers’ adoption of software as a service for their policy administration systems.

The Leavitt Group is reducing costs and boosting productivity by faxing online with the service MyFax.

London — Marsh Ltd., the London-based subsidiary of the New York-based brokerage, has signed a deal to outsource its back office functions.

Today’s increasingly competitive marketplace elevates the importance of flexibility and efficiency in the policy administration process, says researcher.

Winners represent reader recognition of insurance business and technology solution visionaries.

The multi-million dollar deal covers a wide range of IT services.

Insurance firms face new challenges as they avail themselves of the growing business process outsourcing market.

The increase has been across the board in functional areas, including BPO, IT, F&A and HR.